GDX Options History — September 2021

In September 2021, GDX traded between $28.93 and $33.34. ATM implied volatility averaged 29.6%, placing in the 18.5% IV rank vs the trailing year. The 30-day expected move averaged 8.5%. IV traded above realized volatility by 0.0% (HV 20d: 29.6%). Max pain ranged from $31.00 to $34.00. Net GEX was positive for 3 of 21 trading days. Term structure was in contango for 12 of 21 days. Put/call ratio averaged 0.61.

Notable Days

  • 2021-09-16: Highest Volume — 217,458 contracts
  • 2021-09-20: Largest IV spike — 13.5% change
  • 2021-09-20: Highest IV Rank — 42.5%
  • 2021-09-20: Largest Expected Move — 10.1%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$31.10$28.93$33.34$32.40$29.52
Max Pain$33.02$31.00$34.00$33.50$31.00
ATM IV29.6%26.3%34.4%27.4%32.6%
Expected Move8.5%7.4%10.1%7.4%9.4%
HV 20d29.6%24.7%32.8%31.4%26.3%
HV 60d27.5%25.8%28.4%27.7%27.8%
IV Rank18.5%2.1%42.5%6.5%33.5%
IV Percentile27.3%0.4%50.8%6.7%50.8%
Term Structure-0.0%-2.0%0.4%0.2%0.3%
VWIV30.4%26.5%35.7%26.5%33.1%
Skew 25d1.6%-0.6%3.0%1.8%1.9%
Skew 10d3.2%2.0%4.8%3.4%3.9%
Call IV 25d29.5%25.9%34.4%27.3%32.1%
Put IV 25d31.1%27.7%35.8%29.1%33.9%
Bid-Ask Spread %7.222.1124.108.802.58
Gamma HHI0.080.060.170.070.08
Net GEX-9.7M-37.5M20.3M11.2M-11.3M
Net DEX795.8M31.9M1.26B404.0M1.07B
Net VEX-11.4M-13.2M-9.9M-12.7M-10.7M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.610.171.660.620.55
Total Volume104,57739,455217,45839,455121,300
Total OI2,708,870.5712,332,9062,941,3312,804,8142,601,605

Daily Data (21 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call VolPut VolCall OIPut OI
2021-09-01$32.40$33.5027.4%7.4%31.4%6.5%26.5%1.8%0.2%11.2M404.0M-12.7M0.628.8024,29415,1611,689,6381,115,176
2021-09-02$32.50$34.0027.0%8.0%31.1%5.0%28.0%1.8%0.2%12.3M404.8M-12.7M0.572.2237,09021,0291,702,2471,123,084
2021-09-03$33.34$34.0026.3%7.9%30.8%2.1%27.7%1.8%0.3%20.3M31.9M-13.2M0.456.90128,71457,5601,710,2561,131,130
2021-09-07$32.33$34.0027.8%8.1%31.7%9.4%29.3%3.0%0.3%-1.4M504.5M-12.3M0.442.4968,21830,2831,680,3751,118,426
2021-09-08$32.18$33.0027.7%8.0%31.3%9.2%28.8%1.1%0.4%-15.1M616.4M-12.0M0.812.2152,74842,5491,709,8361,143,887
2021-09-09$32.00$34.0028.5%8.2%30.5%13.3%30.9%-0.6%0.2%-20.9M676.7M-12.0M0.413.1173,21029,7941,727,2191,149,595
2021-09-10$31.57$34.0029.3%8.2%30.2%17.5%29.6%1.8%-2.0%-22.8M848.7M-11.7M1.347.5133,36944,8821,730,4481,148,780
2021-09-13$32.09$34.0028.5%8.2%29.7%13.3%29.3%1.8%-0.1%-6.5M624.3M-11.8M0.3624.1053,81919,5721,734,1961,131,097
2021-09-14$32.25$34.0028.5%8.2%29.7%13.1%28.6%1.9%-0.3%-5.9M573.4M-11.8M0.632.3732,35820,4651,744,1621,150,872
2021-09-15$32.34$34.0027.8%8.0%29.2%10.0%28.2%1.1%-0.3%-2.1M531.8M-11.9M0.492.1934,61417,0471,758,8071,155,631
2021-09-16$30.88$34.0029.0%8.3%32.8%15.9%30.1%1.2%0.0%-37.5M1.10B-11.0M0.752.36124,36293,0961,762,0651,157,439
2021-09-17$30.61$33.0030.3%8.7%32.5%22.2%31.7%0.5%-0.1%-12.8M1.18B-11.0M0.5216.08134,57770,3091,782,3561,158,975
2021-09-20$30.31$33.0034.4%10.1%32.6%42.5%35.7%1.5%-0.5%-10.6M881.0M-11.1M0.602.3067,76140,3601,319,7941,013,112
2021-09-21$30.55$33.0032.5%9.4%28.7%32.9%33.8%1.7%-0.1%-6.4M806.3M-11.4M0.3212.6568,48821,9681,395,0691,046,641
2021-09-22$30.52$32.0031.2%9.0%28.7%26.8%32.6%1.4%-0.3%-4.7M817.4M-11.4M0.589.8570,79340,9441,420,2901,061,161
2021-09-23$29.95$32.0029.6%8.5%29.0%18.9%29.9%2.0%-0.2%-15.4M1.02B-10.8M0.492.3489,03443,3411,445,5641,063,663
2021-09-24$29.73$32.0029.2%8.4%29.0%16.6%29.3%1.3%0.2%-16.9M1.12B-10.5M1.662.1137,19761,7941,468,5711,092,260
2021-09-27$29.65$32.0029.5%8.6%25.4%18.4%29.8%1.7%0.4%-14.8M1.09B-10.2M0.1720.1665,35311,2141,437,4441,033,855
2021-09-28$29.39$32.0031.9%9.3%25.3%30.1%32.7%2.7%0.1%-20.5M1.17B-10.2M0.532.2875,30540,1581,449,8861,062,367
2021-09-29$28.93$31.0032.0%9.3%24.7%30.8%32.5%2.2%0.1%-21.9M1.26B-9.9M0.4617.0956,18125,8061,495,4831,063,820
2021-09-30$29.52$31.0032.6%9.4%26.3%33.5%33.1%1.9%0.3%-11.3M1.07B-10.7M0.552.5878,39842,9021,531,3501,070,255